Dr. Mostafa Madbouly, Prime Minister of Egypt, witnessed today at the Government Headquarters in the New Administrative Capital the signing ceremony of a Memorandum of Understanding (MoU) between Egypt’s petroleum sector and the French company TotalEnergies to cooperate in natural gas exploration activities across a vast area in the Western Mediterranean region.

The signing ceremony was attended by Eng. Karim Badawi, Minister of Petroleum and Mineral Resources; Mr. François Cortix, TotalEnergies’ Exploration Director for the Middle East and North Africa; and Mr. Jérémy Soul, the company’s Exploration Director for the Eastern Mediterranean.

The MoU was signed by Eng. Sayed Selim, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), and Mr. Pascal Breant, General Manager of TotalEnergies in Egypt and Cyprus.

The Prime Minister reaffirmed the government’s full support for efforts aimed at attracting further investments in exploration and upstream activities through incentives and facilitation measures offered to international partners. He noted that these efforts contribute to boosting investments required for new discoveries and the development of existing fields, thereby enhancing local production and reducing Egypt’s energy import bill.

Madbouly added that his meetings with international oil and gas company executives during the Egypt Energy Show (EGYPS) delivered positive messages regarding the government’s seriousness in creating an attractive investment climate that encourages partners to expand their investments in Egypt’s petroleum and gas sector.

For his part, Minister Karim Badawi explained that the MoU establishes a framework for technical cooperation between both sides, including preliminary exploration studies for natural gas and subsurface technical assessments offshore, paving the way for practical exploration activities while reducing investment risks in the region.

The Minister noted that the agreement with TotalEnergies is the outcome of intensive high-level discussions initiated with the company’s CEO, Mr. Patrick Pouyanné, during his visit to Cairo for the inauguration of this year’s EGYPS conference. Discussions focused on the company’s broader return to gas exploration investments in Egypt, particularly in the Western Mediterranean, in light of promising opportunities, incentives, and reforms implemented in the sector.

Badawi welcomed TotalEnergies’ return to natural gas exploration activities in Egypt, stressing that the partnership reflects the Ministry’s ongoing efforts to create a more attractive investment environment through incentives, flexible systems, and the settlement of partners’ dues. These measures, he said, have restored the confidence of international companies and encouraged them to expand exploration, field development, and drilling activities to support domestic production and secure local market needs.

The Minister further emphasized that the petroleum sector continues to provide attractive investment opportunities for strategic partners to intensify exploration activities and support the gradual growth of Egypt’s natural gas resources in line with the Ministry’s vision to increase domestic production.

He added that the Mediterranean region remains a top priority for the Ministry’s gas exploration strategy due to its significant untapped potential, as well as Egypt’s strong infrastructure and accumulated expertise that position the country as a key regional hub for cooperation with major international energy companies.